I own a freehold house in Fenham yet pay rent, why is this and what is this?

It is rare for properties in Fenham and has limited impact for conveyancing in Fenham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.

I am purchasing a terraced house in Fenham. How practical is it for me to do the conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Fenham you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Fenham.

Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Fenham is where the house is located. Can you shed any light on this issue?

Flying freeholds in Fenham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Fenham you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fenham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

What makes your site different to alternative internet conveyancing solicitors when it comes to conveyancing in Fenham?

At this site get an accurate quote from a Solicitor or Licensed Conveyancer that appreciates the nuances of your conveyancing in Fenham. As opposed to estate agents and brokerage sites we do not charge firms a fee if you choose them for your property ownership legalities in Fenham

I only have 68 years left on my lease in Fenham. I now want to get lease extension but my landlord is missing. What are my options?

On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to find the landlord. For most situations an enquiry agent may be useful to try and locate and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Fenham.

I acquired a studio flat in Fenham, conveyancing was carried out 8 years ago. How much will my lease extension cost? Comparable properties in Fenham with an extended lease are worth £186,000. The ground rent is £55 invoiced every year. The lease ceases on 21st October 2078

With 53 years left to run we estimate the price of your lease extension to be between £27,600 and £31,800 plus legals.

The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.